The G20 summit kicked off today in New Delhi, India, while President Biden is participating

in the two-day meeting China's president Xi Jinping will not be in attendance.

Many are speculating that economic challenges will keep the Chinese leader at home.

In this episode, Senior Editor Kabat Phillips speaks to Strategic Economist David Goldman

about China's economic condition.

I'm daily wire editor-in-chief John Bickley with Georgia Howe.

It's Saturday, September 9th, and this is an extra edition of Morning Wire.

The following is an interview between daily wire senior editor Kabat Phillips and Asia Times

deputy editor David Goldman.

David, thanks so much for making time for us.

Always look forward to it.

Thank you.

All right, so we'll start. There have been a number of stories over the last month about China

and their economy appearing to be facing a significant downturn.

Just how serious do you think this slump is?

Well, they're certainly having a speed bump, but the economy is still growing.

It's not like the European economy, which is shrinking.

They're in an enormous transition.

One of the great retoolings tried to move away from the old countryside to city migration model

with low skilled heavy industry to a high tech industry economy.

And a lot of that, it is reducing the importance of the property sector in the economy,

doing 25% of GDP, and it's been a huge sink for capital.

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